EURGBP- With more downside threats seen, further decline is expected. Support comes in at the 0.8300 level, its psycho level where a break will aim at the 0.8250 level.
Further down, support resides at the 0.8200 level with a breach of there turning attention to the 0.8150 level. A violation will call for a run at the 0.8100 level.
Its daily RSI is bearish and pointing lower supporting this view.
Conversely, on a recovery higher the 0.8400 level is seen as the initial target followed by the 0.8466 level and then the 0.8550 level. Above here will aim at the 0.8600 level with a breach targeting further upside.
All in all, the cross remains biased to the downside.
Guest post by FX Tech Strategy
